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President Energy shares dive after Lapacho well update

Mon, 17th Nov 2014 11:03

Shares in President Energy fell sharply on Monday despite a positive update from the group on its Lapacho well in the Chaco region of Paraguay.The company said that while it was too early to say that it had struck oil, there was encouraging evidence that it would be able to do so in the future.President previously announced that a light oil/condensate discovery had been made higher up the well in the Icla formation and that drilling would continue to penetrate the main Santa Rosa target.The group said it has seen evidence of "constant background gas ranging from 3% to over 12%" and that it plans to drill to the base of the Santa Rosa formation to a depth of 4,600m to fully evaluate the target section.Due to the extended drilling period, President pledged to update on further progress towards early December.Shares had dropped 19.7% to 27.90p by 13:42.
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President Energy makes progress in Argentina, Louisiana

(Sharecast News) - President Energy updated the market on its oil and gas operations in Argentina and Louisiana on Thursday, reporting that the drilling of well DP-2001 at Salta in Argentina reached the target depth safely, with electric logging concluded.

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25 Nov 2021 17:45

IN BRIEF: President Energy completes Pirity farm-out to CPC Corp

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25 Nov 2021 13:53

President completes farm-out to Taiwan state-owned energy firm

(Sharecast News) - President Energy announced the completion of its farm-out of the Pirity concession in Paraguay on Thursday, to the Taiwan state-owned energy company CPC Corporation.

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22 Nov 2021 20:19

TRADING UPDATES: Big Yellow boosts payout; Grafenia loss narrows

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18 Nov 2021 22:03

TRADING UPDATES: FW Thorpe "up and down"; GB Group ties up US merger

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17 Nov 2021 19:36

TRADING UPDATES: 3i Infrastructure opens USD512 million investment

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UK shareholder meetings calendar - next 7 days

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5 Nov 2021 12:53

President Energy makes progress in several areas

(Sharecast News) - President Energy updated the market on its oil and gas operations on Friday, reporting that the first in the sequence of new oil wells at the Dos Puntitas field of Argentina's Salta province, well DP-2001, had spudded after being delayed due to logistical issues on the 1,950 kilometre journey to the well site.

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5 Nov 2021 12:15

LONDON MARKET MIDDAY: Stocks continue to shine after BoE holds rates

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5 Nov 2021 11:23

IN BRIEF: President Energy develops projects; Atome signs supply deal

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AIM WINNERS & LOSERS: Nichols beats forecasts; eve launches CBD drops

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2 Nov 2021 15:01

EXECUTIVE CHANGES: CFOs drop like flies; ex-IG CEO to chair Scotgold

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IN BRIEF: President Energy's Atome touts credentials ahead of spin-out

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Atome Energy seeking AIM listing as part of spin-out from President

(Sharecast News) - President Energy said on Monday that its green hydrogen and ammonia subsidiary Atome Energy was seeking to float on AIM as part of its spinning-out,

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